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ABC Corporation has the following information for the year: Beginning Accounts Receivable: $20,000 Ending Accounts Receivable: $25,000 Credit Sales: $150,000 Cash Collections: $130,000 Calculate the

ABC Corporation has the following information for the year:

  • Beginning Accounts Receivable: $20,000
  • Ending Accounts Receivable: $25,000
  • Credit Sales: $150,000
  • Cash Collections: $130,000

Calculate the accounts receivable turnover ratio and the average collection period.

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